Secure Trust Bank sees lower loan demand as Brexit deadline looms
Source - SMW
Secure Trust Bank said demand for its lending products had slowed in September, though it expressed comfort in its guidance for the full year.
The fall-off in demand in September appeared to be consistent with recent economic data and was likely a function, the company said, of consumers and businesses becoming more cautious ahead of the 31 October Brexit date.
'Given the strong performance over the first three quarters of 2019, the group remains comfortable with its guidance in respect of the outlook for the full year,' Secure Trust Bank said.
It added, however, that political developments in the coming weeks could impact the UK economy and the company's results in the final quarter.